Best Tax Relief Companies 2019
Ranked by experts. Reviewed by customers.TM
Tax Relief
- Resolved Over $3 Billion in Debt
- No Minimum Tax Debt Requirement
- Available Nationally
#1 Tax Defense Network
- Resolved Over $3 Billion in Debt
- No Minimum Tax Debt Requirement
- Available Nationally
Tax Relief
- Money-back Guarantee
- Range of Tax Debt Solutions
- Settled Thousands of Cases
#2 Optima Tax Relief
- Money-back Guarantee
- Range of Tax Debt Solutions
- Settled Thousands of Cases
#3 Community Tax, LLC
- Flat Fee Format
- Minimum $7k Debt Required
- Free Consultation
Tax Relief
- Full Service Tax Consulting
- Available Nationally
- Accredited, Licensed, and Bonded
#4 StopIRSDebt.com
- Full Service Tax Consulting
- Available Nationally
- Accredited, Licensed, and Bonded
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- Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
- Negotiates with your creditors on your behalf.
- Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
- Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
- Combines all your debts and creditors into one monthly payment.
- Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
- You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
- Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
- Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
- Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
- Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
- Borrowers can receive funds from their loan within only a few days.
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What to Know Before Choosing a Tax Debt Relief Company
Whether you are dealing with un-filed taxes, tax liens, tax levies, or wage garnishments, tax relief companies can help you resolve your tax problems. Tax relief companies employ Certified Public Accountants (CPAs), enrolled agents, and tax attorneys.
Enrolled agents can represent you before the Internal Revenue Service (IRS), and tax attorneys can represent you in tax court. Many tax relief companies also offer audit support and tax preparation services, so they employ CPAs.
Tax Relief Process
Tax relief companies begin by evaluating your tax situation. The evaluation process usually begins with a consultation. Many tax relief companies offer this free of charge. The tax relief company then determines the best way to resolve your tax issue and works with necessary government organizations to reach a resolution.
The most common solutions for back taxes are:
- Offer in compromise: a negotiated settlement for your tax debt
- Installment agreement: a negotiated payment plan for owed taxes
- Currently non-collectible status: If the IRS sees clear documentation that shows that you cannot currently pay your debt, you can have your account labeled as currently non-collectible which protects you from further penalties.
If you’ve already had some penalties assessed, like wage garnishment, tax liens (IRS has first claim to money resulting from a sale), or tax levy (IRS seizes assets for back taxes), there are several ways to respond:
- Appeal: contests that the IRS unfairly assessed penalties
- Penalty abatement: ends IRS penalties
Penalty abatement is only available under certain circumstances, so it is difficult to get a penalty abatement. For any tax problem caused by a current or former spouse, innocent spouse relief protects you from being penalized for that error under certain conditions.
Tax Relief Cost
Tax relief costs vary depending on the extent of services required to resolve your tax issue. Average prices typically range between $2,500 and $5,000.
Tax Relief Requirements
Most tax relief companies have a minimum tax debt requirement. Although there is some variation within the industry, it is typically $10,000.
